Greece Golden Visa Programme
Known as the Greece Golden Visa Programme, Greece’s Residence by Investment Programme has been in operation since 2014 and is considered one of the most affordable programmes that provides access to Europe. The Programme is the ideal solution for non-EU, EEA, or Swiss nationals seeking the freedom to live, undertake business, and study in Greece, or to travel across the Schengen Area.
Greece’s pleasant Mediterranean climate, cosmopolitan cities and exceptional approach to hospitality have lured many high net worth individuals into making this beautiful country their second home. Investors and their families can obtain permanent residence status in Greece through the Programme, even while maintaining alternative residence elsewhere. Under the Programme, permanent residence status is subject to renewal every five years.
Benefits of Greek Residency
There are a number of key advantages for those applying to the Greece Residence by Investment Programme, including:
- The right to live, work, study, and undertake business in Greece
- Visa-free travel across the Schengen Area
- High levels of safety and security, excellent education opportunities, and robust healthcare options
- Immediate permanent residence, subject to renewal every 5 years
- Ability to include family members in an application (married spouse, children of the main applicant or spouse under 21 years old, and parents of the main applicant or spouse)
- Eligible for citizenship after 7 years of physical presence in Greece, subject to the fulfilment of other criteria (including language requirements)
The most popular option under the Greece Residence by Investment Programme is the real estate option.
Applicants may obtain permanent residence in Greece through the purchase of real estate with a minimum value of EUR 250,000, plus the applicable taxes and fees.
- Real Estate EUR 250,000
The Greece Residence by Investment Programme allows applicants to obtain permanent residence in Greece, however upon the fulfilment of certain requirements, residents may be eligible for citizenship after seven years of physical presence in Greece.
After residing in Greece for seven years, applicants can apply for Greek citizenship. Requirements for naturalisation include having a permanent home in Greece, being part of the local community, and having the ability to speak Greek.
Once naturalised, new citizens can then apply for a Greek passport. Greece is a member of the European Union, which means that Greek citizens are also European Union citizens. They may be allowed to live, work, or study in the European Union, EEA, and Switzerland.
- Step 1: Interested applicants must submit an application for a Schengen visa to the Greek consulate authority in their country of origin
- Step 2: Select a property for purchase
- Step 3: Collect supporting documentation for the residence permit application
- Step 4: Submit application along with supporting documentation before the expiry of the entry visa
- Step 6: Final verification
- Step 7: If approved, travel to Greece to submit your biometric information
Frequently Asked Questions
What are the investment options under the Greece Residency by Investment Programme?
- Real Estate Investment
To be able to apply for this programme, you should be at least 18 years of age, in good health, and without a criminal record.
Applicants should be third country nationals (i.e. non-EU, EEA or Swiss) and have sufficient funds to make the investment.
Which family members can I include in my application for residence?
The following family members may accompany the main applicant and can each receive individual residence permits, subject to the validity of the main applicant’s permit:
- Spouse (for same-sex couples the marriage must also be legalised in Greece)
- Children, whether biological or adopted, of the main applicant or of the spouse, if aged under 21
- Parents of the main applicant or of the spouse
Is there a physical presence requirement?
No physical presence is required to maintain the permanent residence permit, however there is a travel requirement to supply biometrics for the investor and all family members before the permit is issued.
How long does it take to process a residence by investment application?
From submission of the application to an approval, applicants are generally expected to wait between one and six months.
Are citizens of certain countries not allowed to apply?
Applicants should be third country nationals (i.e. non-EU, EEA or Swiss). Greece is also not accepting new requests for the issuance residence permits from Russian nationals.
What is the duration of the residence permit for real estate owners?
This residence permit is permanent, however it can be revoked if applicants fail to fulfil certain conditions. The holder of the residence permit is required to renew it every five (5) years.
What are the conditions for the renewal of residence permits for owners of real estate?
- The residence permit shall be renewed every five (5) years. To renew the residence permit, applicants who purchased real estate should ensure that the real estate property remains in the full ownership of the applicant.
Absences from Greece do not prevent renewal of the residence permit. Applicants may sell their real estate property to another third country national during the period of validity of the residence permit, resulting in the new owner obtaining the right to a residence permit and the revocation of the seller’s permit.
Is This Programme for Me?
The Greece Residence by Investment Programme allows qualified applicants to obtain permanent residence status in Greece, even while living elsewhere.
The following persons may also be a good fit for the Programme:
- Individuals and families who want to enjoy visa-free access to Europe’s Schengen Area
- Investors looking to invest in real estate in Greece
- Families who want to live, study, and undertake business in Greece